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tv   Wall Street Week  FOX Business  December 31, 2017 9:00am-9:30am EST

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be sure to send me your questions or property stories at propertyman@foxnews.com. that's it for today. i'm bob massi. i'll see you next week. ♪ perous one. gregg rsh good night from new york. >> announcer: from fox business headquarters in new york city, the new "wall street week." reporter: welcome to "wall street week." i'm in for for maria bartiromo. it's been a busy year with the markets hitting all-time highs. here is maria with the stories. maria: 2016 was the year of the
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businessman turned president, donald trump. president trump: together we'll make america strong again, we'll make america wealthy again, we will make america proud again, we'll make america safe again, and yes together we will make america great again. maria: his blunt speech on inauguration day setting the tone for a contentious year in politics. all the major stock indices hitting record seemingly day after day with $6 trial in value added since his election. >> this is a very big day for your money. 24,000 on the dow. maria: business leaders credit much of the runup to the pro-brings policies of the trump
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administration. economic growth of 3% or better for three straight quarters. president trump: there is a tremendous enthusiasm for business in this country. maria: but there were set backs. a thumbs down from john mccain killing the gop promise to repeal and replace obamacare. but in the climate of less regulations, mega deals littered the landscapes of corporate america. cbs trying to acquire aetna. and at&t fighting the government in its bid to own time-warner. the good and the bad of technology was on display. but hackers making their mark, a huge breach of the information equifax was supposed to protect.
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100 million americans personal data stolen. but it was a great year for telling as well. amazon and google crossing $1,000 a share. apple has sold more than 1.25 billion i phones. then there was the scandal of the decades. sexual harassment. from the slew of hollywood people to major media figures like matt lauer, bill o'reilly and charlie rose. and the boys club culture in silicon valley taking down executives. the year ends with a question everybody is asking. is bitcoin a bubble? it cracked the $20,000 range.
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where it goes from here will be the story. lauren: as maria mentioned the markets have been on a tear posting their best performance since 2014. taking a look how the markets ended for the year. the dow up 25% in 2017. it's note worth think -- it's noteworthy five stocks accounting for over half of the dow's rally this year. the nasdaq up over 28%. and taking a look at the s & p 500 closing up 25%. 9 of the 11 sectors are up.
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the managing partner at high toh thightower. >> everything went right news were in the insurance business. if you took risks this year man out of the united states this year, you were rewarded. lauren: what were the best performing sectors this year and the ones you think will do well in the new year. >> technology was the best performing. and for good reason. companies with lots of cash. plenty of ways to grow by
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acquiring companies or investing in new technologies, and you are in the middle of a revolution in terms of technology and self-driving cars. lauren: the tech sector is up almost 40%. does it still go that much higher? >> i don't know if you will get a 40% run in 2018. nor a 20% run in the stock market. but double digits is still in the cards. fueled by tax cuts in the united states andologier countries are lowering their corporate tax rates. and companies are growing. lauren: you brought up tax policy. we'll see the impact of that in 2018. we might see a plan emerge in the next couple weeks of the year. are these all positives for the market?
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>> if you are an accountant you have seen it already. my accountant is working through the weekend. if he's watching, business is good. and the attorney. so you will start to see the impact of that. you had some announcements friday of corporations that will see repatriation of capital that will cost them a one-time earnings charge. i think the market will overlook the charges and look through to what it means to the bottom line. the most of impact is going to be felt in small and medium-size companies that pay high tax rates to begin with. and next year i think you will hear talk of it getting busted up into different parts. that's why value outperforms growth. the low p.e. companies that will benefit from lower taxes and have assets the companies
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repatriating, they will be looking to make acquisitions. lauren: there is a lot of talk that tax code will enrich companies and their shareholders and not necessarily go to the employees with bigger, fatter paychecks. but this is the flip side. if we do see wage growth and we have this fed starting to hike interest rates maybe arguably too aggressively, would that be the catalyst, inflation that takes count markets in 2018? >> i think there are three potential takedowns of the market. inflation, joe omi -- geopoliti. most of inflation from comes from wages and home prices. i think home prices do come back, especially in the
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tri-state area of california. not being able to deduct your it rates and taxes, that will hurt. the third is more likely. you get an earnings miss. now that the market is trading. if you see a couple of well weather companies miss on the bottom or top line it may hurt the market. so 12% earnings growth and the best companies will be growing 15% to 20%. we are tilted more towards small cap companies, but absolutely. >> thank you so much for your perspective. do not go anywhere. folks at home, more "wall street week" after this short break.
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>> announcer: telling isn't just a young man's game. the school's founder and ceo (siren wailing) (barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to the patient. verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away. as we get faster wireless connections, it'll be possible to be able to operate on a patient in a way that was just not possible before. when i move my hand, the robot on the other side will mimic the movement, with almost no delay. who knew a scalpel could work thousands of miles away?
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lauren: the tech world considered a young man's game. but the flatiron school in new york has become a place where anyone of any age can learn how to code, a skill crucial for the impending a.i. revolution. >> there is a misconception that people who are coders are born in the matrix and sit there alone. it's totally false. we found that the single most of important thing to be successful as a software engineer is creativity. it's a highly creative field. we take people with no background with no computer
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programming and turn them into software engineers. the most of successful students are people with creative background. people with a passion for writing or photography or music because they like to create. as our economy has changed, what he lost the ability to make things, americans love to build and create and make things. this is that new wave, the new form of manufacturing is making software, building things. maria: making software, writing software are important skills that we need as we see a.i. come into play in he industry. >> when people think of tech they think of facebook and google. and of course there are tons of jobs over there. but that's only a small percent of the jobs that exist in tech. every industry, everything you do today is controlled by code. if you were buying concert
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tickets or flying an airplane or getting in a car. it's controlled by telling. nothing is controlled by code any more. whether you are interested in fashion or media or music there are coding jobs in all of those industries. maria: this article on campus technology says 97% of flatiron graduates land jobs. >> it's one of the fastest growing jog segments in the country. not only that, somehow copier science graduates from traditional university are not nearly keeping up with pace. we are projecting a shortfall of a million software engineers. these are high-paying jobs. these companies are dying to recruit talent and universities aren't doing the job of creating
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enough people. maria: people think it many a young man, young woman's job. you here at flatiron are saying all ages try to figure it out and learn it. >> you were right the first time. many people think it's a young man's job. we are really proud to have achieved gender parity in our online programs and we work hard to do that through a lot of scholarships and partnerships. but our students ranged to 18 years old to over 50. we have had harvard ph.ds to community college dropouts and all of them are successful. it's a skill anybody can learn if they are motivated and put the time in. >> announcer: adam e
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>> announcer: welcome back to "wall street week." now more maria's interview with adam enbar. maria: do you worry robotics are going to take over our jobs? we keep hearing expectations there will be more robots than humans in 20-30 years. >> i don't know if that's true or not. if a.i. put naits anything, i'm sure the software engineering jobs will be the last to go. second of all, historically it's been easy to envision the jobs that disappear but impossible to predict the jobs that get created.
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today people are talking about bitcoin and crypto currency. think of the jobs being created in that industry. the iphone was invented 10 years ago. the idea of an entire multi million dollar industry being built on apps didn't exist. we can't even conceive of what jobs will be created. self-driving cars in the trucking industry and invest in training for our workforce. you can't go to college and learn for four years and work for the rest of your life without investing and continually training yourself. technology has a way of expanding opportunities and we have to be willing to learn. maria: you don't want your doctor to stop learning. you don't want to ever stop learning as the world is
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changing. >> unfortunately our current education system is not built to allow that. going to school is expensive and it takes a long time. you have to quit your job. and that's what we are trying to build in the flatiron school, a world where people can make learning part their careers. designed upscale in the areas. maria: tell me about the curriculum and how long you go to the flatiron school. it's not a 4-year college we are talking about. you can go and get trained in a short period of time. >> our programs are 15 weeks long. we also have online programs that are flexible. some students will finish the programs in three months, others will finish them in 10 months.
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if you are a working mom it night take you longer. anybody can do it. it's just about putting in the hours. >> the industries out there look for coders and some of the wear engineers, are there industries you see that are more in demand for that kind of skill set? who is hiring coders? >> everybody. i can't think of a single industry right now that has not been entirely transformed by technology by code in the past 10 years. maria: one is healthcare. you have selfy conductor chips in your blood stream and chips all over your body to track everything. >> entries you might not expect. media and journalism. most of us consume our news on apps. media companies have giant teams of software engineers building
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those apps. the stores that you shop at that send you emails, somebody is building that. that creates diversity and especially gender parity is the realization it's not just about inventing semi conductors. while that's important, you can pursue your passion, whatever it might be, whether it's fashion or media or accounting, if that's your thing, while being a software engineer. maria: you had a soup per model go through flatiron? >> yes, car live foss is an incredible inspiration. she turned scholarships for young women. free summer camps for high school girls around the country. it's amazing to see.
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people like that showing technology is accessible it's a way to build an amazing career and you can do it while pursuing whatever your passion is. maria: when you look at the wages. we are talking about wages. we have been waiting for wages to move. when you have a degree in coding or software engineering, you will get a job that's much higher paying than other jobs. what's the salary typically? >> we take reporting ever seriously. we invented independently audited jobs reports. we have cpa review our outcomes. students leave flatiron school and go to a variety of paths from apprenticeships toful-time salary roles. the full-time rolls have an average of $75,000
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lauren: let's look at market events that could impact your wallet. the abp release their employment report thursday, and the neighbor department release theirs friday. we get numbers from market movers, international trade and factory orders. another flight week for earnings. but keep an eye on quarterly numbers from right aid, walgreens, and monsanto. the president and senate return to d.c. and we could see the beginning frame work of an infrastructure bill. next week maria bartiromo will's
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guest, ralph schlosstein. that will do it for us on "wall street week." maria is back next week. ♪ >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,

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